As filed with the Securities and Exchange Commission on July 24, 2000.
-------------------------------------------------------------------------------
File Nos. 333-50879
811-07351
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 6 /X/
AND/OR
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 17 /X/
GLENBROOK LIFE AND ANNUITY COMPANY SEPARATE ACCOUNT A
(Exact Name of Registrant)
GLENBROOK LIFE AND ANNUITY COMPANY
(Name of Depositor)
MICHAEL J. VELOTTA
VICE PRESIDENT, SECRETARY AND GENERAL COUNSEL
GLENBROOK LIFE AND ANNUITY COMPANY
3100 SANDERS ROAD
NORTHBROOK, ILLINOIS 60062
847/402-2400
(Name and Complete Address of Agent for Service)
COPIES TO:
ANTHONY POOLE, ESQUIRE TERRY R. YOUNG, ESQUIRE
GLENBROOK LIFE AND ANNUITY COMPANY ALFS, INC.
3100 SANDERS ROAD, SUITE J5B 3100 SANDERS ROAD, SUITE J5B
NORTHBROOK, ILLINOIS 60062 NORTHBROOK, ILLINOIS 60062
APPROXIMATE DATE OF PROPOSED PUBLIC OFFERING: CONTINUOUS
IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE (CHECK APPROPRIATE BOX)
__ immediately upon filing pursuant to paragraph (b)of Rule 485
__ on (date) pursuant to paragraph (b) of Rule 485
X 60 days after filing pursuant to paragraph (a)(1) of Rule 485
__ on (date) pursuant to paragraph (a)(1) of Rule 485
IF APPROPRIATE, CHECK THE FOLLOWING BOX:
__ This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
TITLE OF SECURITIES BEING REGISTERED: Units of Interest in the Glenbrook Life
and Annuity Company Separate Account A under Deferred Variable Annuity
Contracts.
<PAGE>
Explanatory Note
Registrant is filing this post-effective amendment ("Amendment") for the purpose
of adding the optional Enhanced Death and Income Benefit Combination Rider II
("Rider II") to the AIM LifeTime Plus(TM) II Variable Annuity contract (the
"Contract") described in the currently effective prospectus and SAI for that
Contract, each dated May 1, 2000, included in the Registration Statement. Rider
II will replace the current Enhanced Death and Income Benefit Combination Rider
for Contracts issued on and after the effective date of the Amendment. The
Amendment is not intended to amend or delete any part of the Registration
Statement, except as specifically noted herein.
<PAGE>
GLENBROOK LIFE AND ANNUITY COMPANY
GLENBROOK LIFE AND ANNUITY COMPANY SEPARATE ACCOUNT A
SUPPLEMENT, DATED _______ 2000, TO THE
AIM LIFETIME PLUS(TM) II VARIABLE ANNUITY PROSPECTUS
DATED MAY 1, 2000
This supplement describes the optional Enhanced Death and Income Benefit
Combination Rider II ("new Rider") now available with the AIM LifeTime Plus(TM)
II Variable Annuity contract ("Contract") offered by Glenbrook Life and Annuity
Company. The Enhanced Death and Income Benefit Combination Rider ("old Rider")
described in your prospectus is not available with Contracts issued on or after
the date of this supplement. Please keep this supplement for future reference
together with your prospectus. All capitalized terms have the same meaning as
those included in the prospectus.
There are a few differences between the new Rider, and the old Rider described
in the May 1, 2000 prospectus for the Contract. Under the new Rider:
1) The mortality and expense risk charge is 0.10% higher;
2) When the enhanced income benefit is used to determine income
payments, the enhanced income benefit (less applicable taxes) is
applied only to the guaranteed rates for the Income Plan you elect;
3) If you choose to receive income payments based on the enhanced
income benefit there are two additional conditions: a) the Payout
Start Date must occur during the 30 day period following the Contract
Anniversary; and b) you must apply the enhanced income benefit to
Fixed Amount Income Payments.
Accordingly, your prospectus is amended as follows:
Throughout the prospectus, replace all references to
o the "Enhanced Death and Income Benefit Combination Rider" with "Enhanced
Death and Income Benefit Combination Rider II;"
o total Variable Account annual fees of "1.50%" (old Rider), with "1.60%"
(new Rider); and
o a mortality and expense risk charge of "1.40%" (old Rider), with "1.50%"
(new Rider).
Page 7: Replace the "Variable Account Annual Expenses" table with the following:
Without the Enhanced Death Benefit Option or
Enhanced Death and Income Benefit Combination Rider II
Mortality and Expense Risk Charge................................1.00%
Administrative Expense Charge....................................0.10%
Total Variable Account Annual Expenses...........................1.10%
With the Enhanced Death Benefit Option
Mortality and Expense Risk Charge................................1.20%
Administrative Expense Charge....................................0.10%
Total Variable Account Annual Expenses...........................1.30%
With the Enhanced Death and Income Benefit Combination Rider II
Mortality and Expense Risk Charge................................1.50%
Administrative Expense Charge....................................0.10%
Total Variable Account Annual Expenses...........................1.60%
Pages 8&9: Replace Example 1 with the following:
<TABLE>
<CAPTION>
Variable Sub-Account 1 Year 3 Years 5 Years 10 Years
-------------------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
AIM V.I. Aggressive Growth $102 $179 $248 $434
AIM V.I. Balanced $ 91 $147 $196 $332
AIM V.I. Blue Chip $ 91 $147 $195 $331
AIM V.I. Capital Appreciation $ 86 $130 $167 $274
AIM V.I. Capital Development $111 $207 $293 $516
AIM V.I. Dent Demographic Trends $ 92 $150 $200 $341
AIM V.I. Diversified Income $ 86 $133 $172 $284
AIM V.I. Global Growth and Income $ 92 $149 $198 $338
AIM V.I. Global Utilities $ 89 $142 $187 $315
AIM V.I. Government Securities $ 87 $135 $176 $292
AIM V.I. Growth $ 86 $130 $167 $274
AIM V.I. Growth and Income $ 86 $131 $169 $278
AIM V.I. High Yield $ 92 $150 $201 $323
AIM V.I. International Equity $ 88 $137 $179 $299
AIM V.I. Money Market $ 84 $127 $161 $261
AIM V.I. Telecommunications and Technology $ 91 $146 $194 $328
AIM V.I. Value $ 86 $131 $169 $277
Page 9: Replace Example 2 with the following:
Variable Sub-Account 1 Year 3 Years 5 Years 10 Years
-------------------- ------ ------- ------- --------
AIM V.I. Aggressive Growth $42 $126 $212 $434
AIM V.I. Balanced $30 $ 93 $158 $332
AIM V.I. Blue Chip $30 $ 93 $158 $331
AIM V.I. Capital Appreciation $24 $ 75 $129 $274
AIM V.I. Capital Development $52 $156 $259 $516
AIM V.I. Dent Demographic Trends $31 $ 96 $163 $341
AIM V.I. Diversified Income $26 $ 78 $134 $284
AIM V.I. Global Growth and Income $31 $ 95 $161 $338
AIM V.I. Global Utilities $29 $ 88 $150 $315
AIM V.I. Government Securities $26 $ 81 $137 $292
AIM V.I. Growth $24 $ 75 $129 $274
AIM V.I. Growth and Income $25 $ 77 $131 $278
AIM V.I. High Yield $32 $ 96 $164 $343
AIM V.I. International Equity $27 $ 83 $141 $299
AIM V.I. Money Market $23 $ 71 $122 $261
AIM V.I. Telecommunications and Technology $30 $ 92 $156 $328
AIM V.I. Value $25 $ 76 $130 $277
</TABLE>
Page 33: Add the following to the third paragraph under the Enhanced Death and
Income Benefit Combination Rider II:
In some states, the calculation of the enhanced income benefit will not include
the value of the Enhanced Death Benefit B. Please consult with your sales
representative for information.
Page 33: Add the following after the third paragraph under the Enhanced Death
and Income Benefit Combination Rider II:
This minimum amount is used solely for the purpose of calculating the
guaranteed income benefit under this Rider ("guaranteed income
benefit") and does not provide a Contract Value or guarantee
performance of any investment option.
The guaranteed income benefit amount is determined by applying the
enhanced income benefit amount less any applicable taxes to the
guaranteed rates for the Income Plan you elect. The Income Plan you
elect must satisfy the conditions described below.
Page 33: Replace the second bullet to the fourth paragraph under the "Enhanced
Death and Income Benefit Combination Rider II" with the following:
o occurs during the 30 day period following a Contract Anniversary.
Page 34: Replace the first sentence in the fifth paragraph under "Enhanced Death
and Income Benefit Combination Rider II" with the following:
The enhanced income benefit will only apply if you elect to receive fixed amount
income payments. If, however, you apply the Contract Value and not the enhanced
income benefit to the Income Plan, then you may select any Income Plan we offer
at that time. If you expect to apply your Contract Value to variable income
payment options or to current annuity payment rates then in effect, electing the
enhanced income benefit may not be appropriate.
<PAGE>
PART B
SUPPLEMENT DATED _____ 2000 TO THE AIM LIFETIME PLUSTM II
VARIABLE ANNUITY STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2000
OF GLENBROOK LIFE AND ANNUITY COMPANY SEPARATE ACCOUNT A
OF GLENBROOK LIFE AND ANNUITY COMPANY
The following is added to the section entitled "Standardized Total Returns":
Contracts with the Enhanced Death and Income Benefit Combination Rider II were
first offered to the public as of the effective date of this supplement. The
Variable Sub-Accounts were available for investment prior to that date.
Accordingly, performance figures for the Variable Sub-Accounts prior to that
date reflect the historical performance of the Variable Sub-Accounts, adjusted
to reflect the current level of charges that apply to the Variable Sub-Accounts
under the Contracts with the Enhanced Death and Income Benefit Combination Rider
II, as well as the withdrawal and contract maintenance charges.
(With the Enhanced Death And Income Benefit Combination Rider II)
<TABLE>
<CAPTION>
10 Years or Since
Variable Sub-Account One Year Five Years Sub-Account Inception
<S> <C> <C> <C>
AIM V.I. Aggressive Growth 33.85% N/A 17.24%
AIM V.I. Balanced 10.37% N/A 12.44%
AIM V.I. Blue Chip N/A N/A N/A
AIM V.I. Capital Appreciation 33.80% N/A 18.13%
AIM V.I. Capital Development 19.44% N/A 5.16%
AIM V.I. Dent Demographic Trends N/A N/A N/A
AIM V.I. Diversified Income -3.53% N/A 0.80%
AIM V.I. Global Growth and Income N/A N/A N/A
AIM V.I. Global Utilities 23.57% N/A 17.02%
AIM V.I. Government Securities -2.94% N/A 1.49%
AIM V.I. Growth 25.12% N/A 21.90%
AIM V.I. Growth and Income 24.20% N/A 22.20%
AIM V.I. High Yield 2.25% N/A -6.58%
AIM V.I. International Equity 43.46% N/A 19.50%
AIM V.I. Money Market 2.99% N/A 2.12%
AIM V.I. Telecommunications and Technology N/A N/A N/A
AIM V.I. Value 20.18% N/A 19.19%
The following table is added to the section entitled "Non-Standardized Total
Returns":
Contracts with the Enhanced Death and Income Benefit Combination Rider II were
first offered to the public as of the effective date of this supplement. The
Variable Sub-Accounts were available for investment prior to that date.
Accordingly, performance figures for the Variable Sub-Accounts prior to that
date reflect the historical performance of the Variable Sub-Accounts, adjusted
to reflect the current asset-based charges that apply to the Variable
Sub-Accounts under the Contracts with the Enhanced Death and Income Benefit
Combination Rider II, but not the withdrawal and contract maintenance charges.
(With the Enhanced Death And Income Benefit Combination Rider II)
10 Years or Since
Variable Sub-Account One Year Five Years Sub-Account Inception
AIM V.I. Aggressive Growth 42.38% N/A 21.70%
AIM V.I. Balanced 17.41% N/A 16.72%
AIM V.I. Blue Chip N/A N/A N/A
AIM V.I. Capital Appreciation 42.32% N/A 19.45%
AIM V.I. Capital Development 27.05% N/A 9.18%
AIM V.I. Dent Demographic Trends N/A N/A N/A
AIM V.I. Diversified Income -3.48% N/A 1.95%
AIM V.I. Global Growth and Income N/A N/A N/A
AIM V.I. Global Utilities 31.44% N/A 18.33%
AIM V.I. Government Securities -2.88% N/A 2.65%
AIM V.I. Growth 33.09% N/A 23.26%
AIM V.I. Growth and Income 32.12% N/A 23.56%
AIM V.I. High Yield 8.77% N/A -3.01%
AIM V.I. International Equity 52.59% N/A 20.84%
AIM V.I. Money Market 3.05% N/A 3.28%
AIM V.I. Telecommunications and Technology N/A N/A N/A
AIM V.I. Value 27.84% N/A 20.52%
The following table is added to the section entitled "Adjusted Historical Total
Returns":
(With the Enhanced Death And Income Benefit Combination Option II)
10 Years or Since
Variable Sub-Account One Year Five Years Sub-Account Inception
AIM V.I. Aggressive Growth 33.85% N/A 17.24%
AIM V.I. Balanced 10.37% N/A 12.44%
AIM V.I. Blue Chip N/A N/A N/A
AIM V.I. Capital Appreciation 33.80% 21.79% 19.37%
AIM V.I. Capital Development 19.44% N/A 5.16%
AIM V.I. Dent Demographic Trends N/A N/A N/A
AIM V.I. Diversified Income -3.53% 3.78% 1.95%
AIM V.I. Global Growth and Income -7.63% 10.49% 9.40%
AIM V.I. Global Utilities 23.57% 18.31% 15.33%
AIM V.I. Government Securities -2.94% 3.71% 2.55%
AIM V.I. Growth 25.12% 24.71% 19.21%
AIM V.I. Growth and Income 24.20% 24.68% 21.43%
AIM V.I. High Yield 2.25% N/A -6.58%
AIM V.I. International Equity 43.46% 18.74% 16.30%
AIM V.I. Money Market 2.99% 2.50% 2.48%
AIM V.I. Telecommunications and Technology 91.13% 30.37% 26.90%
AIM V.I. Value 20.18% 22.89% 19.72%
</TABLE>
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant has caused this Registration Statement, as amended, to be
signed on its behalf by the undersigned, thereunto duly authorized, all in the
Township of Northfield, State of Illinois, on the 24th day of July, 2000.
GLENBROOK LIFE AND ANNUITY COMPANY SEPARATE ACCOUNT A
(REGISTRANT)
BY: GLENBROOK LIFE AND ANNUITY COMPANY
(DEPOSITOR)
By: /s/MICHAEL J. VELOTTA
-----------------------
Michael J. Velotta
Vice President, Secretary and
General Counsel
As required by the Securities Act of 1933, this Registration Statement, as
amended, has been duly signed below by the following Directors and Officers of
Glenbrook Life and Annuity Company on the 24th day of July, 2000.
*/THOMAS J. WILSON, II President and Chief Operating Officer
----------------------
Thomas J. Wilson, II
/s/MICHAEL J. VELOTTA Vice President, Secretary, General Counsel
---------------------- and Director
Michael J. Velotta
*/KEVIN R. SLAWIN Vice President
------------------ (Principal Financial Officer)
Kevin R. Slawin
*/MARGARET G. DYER Director
-------------------
Margaret G. Dyer
*/MARLA G. FRIEDMAN Vice President and Director
-------------------
Marla G. Friedman
*/JOHN C. LOUNDS Director
------------------
John C. Lounds
*/STEVEN C. VERNEY Director
-------------------
Steven C. Verney
*/J. KEVIN MCCARTHY Director
--------------------
J. Kevin McCarthy
*/CASEY J. SYLLA Chief Investment Officer and
----------------- Director
Casey J. Sylla
*/SAMUEL H. PILCH Controller
---------------------- (Principal Accounting Officer)
Samuel H. Pilch
*/ By Michael J. Velotta, pursuant to Power of Attorney, previously filed.
